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Trade Assignment: Protection and Free Trade

   

Added on  2020-05-28

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Running Head: PROTECTION AND FREE TRADEPROTECTION AND FREE TRADE Name of the Student:Name of the University:Author Note

1PROTECTION AND FREE TRADE1.Brief overview of the trade history of the chosen countriesSpain can be considered to be the fourth largest economy in the Eurozone which has a GDPof 1.1 trillion (Vives, Jaime and Vicens). The economy of the aforementioned country grew by3.2 percent which is the only witnessed positive annual growth rate since the year 2007. Spain isthe 17th largest export economies of the world. As recorded in the year 2016 Spain’s import werecalculated to be 299 billion dollars. The net worth of the exports of the country was calculated tobe 275 billion dollars. The top exports of Spain include Vehicle parts, refined Petroleum,Delivery Trucks and Cars. According to the Harmonized System of classification its top importswere Petroleum Gas, Crude petroleum and packaged medicaments. Afghanistan’s Economy has improved significantly in the past decade due to investment ofbillions of dollars by international assistants and expatriates of Afghanistan. The nation haswitnessed political stability and reliability after the fall of the Taliban Regime (Ge, Ying, et al).It is due to this that the country has received more financial assistance from its investors andexpatriates. The GDP of the nation is 64.8 billion dollars with an exchange rate of 18.4 billiondollars. The country’s main export partners are Tajikistan, India and Pakistan. While its chiefimport partners are China, India, United States and Turkmenistan. The export items of thecountry include Afghan Rugs, wool, gemstone, hides and fruits. While its top import itemsinclude machinery, textiles, petroleum, food and capital goods.

2PROTECTION AND FREE TRADE2.Social, political and economic overview of the chosen nationsSocial and political overview of Spain:Spain is a constitutional monarchy which stands on a parliamentary democracy. PoliticalPower in Spain is decentralised. Due to this the communities have a legislative fiscal andexecutive autonomy which facilitates trade. It can be said that after hitting six years of recessionperiod Spain started recovering in the latter half of 2013. It can be stated that the socio politicalevents that have taken place in Spain have had serious consequences on its economy and trade.The financial crisis faced by Spain in the year 2008 was viewed as a consequence of the decisionof the Prime minister of Spain to bring forward the general election which was supposed tohappen in March 2012 but was brought forward to November 2011. It can be stated that thefinancial and economic crisis faced by Spain exposed weakness in the Spanish society andEconomy. Economic overview Spain:The economy of Spain strengthened remarkably by the year 2016. It can also be mentionedthat Spain experienced a growth rate of3% of the Gross Domestic Product (Cohn and Theodore).The economic growth experienced by Spain was supported by deflation, job creation, loweringof oil prices, fall in the value of Euro, reforms related to implementation of policies andincreased domestic demand. Growth rate of the Spanish economy exceeded 3.2% of theexpectation in the year 2016. It can be said that the unemployment rate in Spain has fallen but itstill remains quite high compared to other European nations. The greatest source of income for the nation still remains to be Tourism as Spain is the thirdmost popular tourist destination after France and the United States. The tertiary sector of tourism

3PROTECTION AND FREE TRADEemploys 75% of the population in Spain and contributes to two thirds of the Gross Domesticproduct. Agriculture contributes to 2.5% of the GDP of Spain. Social and Political Overview of Afghanistan:The country Afghanistan has witnessed slow economic recovery since the fall of the Talibanregime. Afghanistan has always witnessed political instability which has had an adverse impacton the society and trade. The primary reason for the slow economic recovery is the politicalinsecurity which adversely affects the consumer and investment demand. Economic Overview of Afghanistan:It can be said that poverty rate has increased in Afghanistan since the international troopswere withdrawn from Afghanistan in the year 2011 (Berdal, Mats). It has also resulted in declineof economic growth. Afghanistan has faced numerous political challenges due to the increasedinsurgency. The World Bank has initiated a programmatic approach to provide financial supportto Afghanistan National Peace and Development Framework. 3.Orography of the nationsThe Meseta Central is a plateau located at the heat of peninsula of Spain. The plateau isrimmed by mountain ranges which slope to the west gently. The Sismeta Central act as the dorsalspine of the Meseta Central dividing into two northern and Southern regions (Gutiérrez,Francisco, and Mateo Gutiérrez). The mountains of Sismeta Central which extend westward toPortugal exhibit glacial features. However the aforementioned mountain ranges do not create anybarriers for transportation and allows railroad and road transportation to the northeast regionsand northwest regions. It can be mentioned that the mountain ranges bordering Meseta Centralare Cordillera, Cantábrica and Sistema Ibérico. Pyrenees mountain range lie to the northeast ofMeseta Central and Sistema Penibético lie to the south east of Meseta Central.

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